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[laginaneil] 24/9/2019 18:06

Any feedback on Novocarbon situation?

[alchemy] 24/9/2019 17:47

Realism dear Andy . They swat away as an autumn fly.We'd need 10000 more Lady Hales.

[clint fleecewood] 24/9/2019 17:35

Yes Andy, you are, in theory correct but as you well know, that practice happens daily on this and many other boards with absolutely no repercussions. It seems it is acceptable on AIM.

[battery] 24/9/2019 17:34

AGM lasted 22mins. Remainder of the time (1hr 40 mins) was spent on Q&A.

Neill had David, Matt, Chris and Susan on the stand with him to answer questions.

Neill started by reading out the RNS from this morning.

Someone at the front asked about the 30T machine progress. "30T is an aspirational target, could be higher or lower". Trials taking place and now need to specify and do some more trials. 2x options for scalability, current machine is modular so can be expanded by adding more modules. This is the less risky, but less preferred approach. Alternatively, we can have a bigger system which is "probably what we would want to deliver internationally". Number of other issues regarding scaling up of inks, compounding (eg Polygrene).

Question regarding the players and actors in the China deal. Matt answered: Strategy hasn't changed. Shangdong province is still a key area/part to play. Things that might have changed - Chinese are looking for a more top-down approach. They want it to be sustainable with central government involvement. Was a single factory, now we have incubation models and are working to push down into multiple projects. Gone from a provincial interest to national interest. BIGT is tier 1, provinces (factories and incubators) will be tier 2. Website will be updated with a 1-page summary of players in China.

Neill:
Question about USA. Brian is busy getting through Patricks list + all new subsequent leads. Plan is to start small and grow. Talking to NGA

Last year was about getting collaborations. This year is about international. Next year is about promotion. Now working with a large PR agency in London to get the word out about Graphene "really working" but only if its the right type.

Question to Susan about her thoughts on VRS. Explained her role, audit committee. Pointed out team is incredibly transparent, "if anything too transparent" and suggested some governance needed to be put in place.

Question about tyres: David said we have 3x different collaborations in play. "Not one of key 5 markets"

Question on Gnanomat and batteries.
Neill: "Gnanomat is concentrating on supercaps not batteries. Batteries are not in our top 5 as we see them as a long term research project but we are working with the right people". Takes a long time to get changes adopted.

Question on Japan and Korea progress:
David: Korea and Japan are progressing. In Korea we are dealing with the "big" Korean companies and companies in the supply chain. Japan is more a "slow burner". Its a saturated market but they haven't got Graphene right yet. Approach is to go direct to government and trade promotion agencies.


Neill:
Lots of IP - it exists on the raw product, the masterbatch process and the end application. Can take 6 months to get the collaboration arranged due to IP negotiations.


Question about Manchester relationship. "They are (VRS) shareholders so cannot be seen to be showing favoritism. "We have a great relationship with James Baker but his job is to fill the GEIC with money."

We are now getting approaches from universities all around the world.

[forestfred] 24/9/2019 17:28

A Very Good constructive well attended AGM today .


I Feel very positive a very constructive question answer session .

As usual Vrs and team were very straight forward .



As always please to do your own research .

Atb

Ff
Lth

[laginaneil] 24/9/2019 17:13

OK I understand, BOE was regular meeting in Cheltenham. BOE ask evidence and sentiment on economy.
See Neill's Twitter.

[andymoore07] 24/9/2019 17:12

Ok cheers ?

[cheek212] 24/9/2019 16:54

IIs can buy in anytime they want but if they want a big holding without spiking up the share price, then they will have to speak to da man, and I'm sure he will do them a deal at a premium, as I am hoping is the case with the BIGT.

[andymoore07] 24/9/2019 16:43

Hi guys good news from today, one thing from me for clarification please, I thought the IIs were waiting for BIGT to drop, then as we would be de risked them they would buy in. But now is it that the offering will be at the same time as BIGT?

[laginaneil] 24/9/2019 16:20

What was said about the USA ?

Why was Neill at the BOE ?

Any clues?

[grabster] 24/9/2019 16:16

"We've gone through the hoops now...the team is very confident that it will be delivered in a short period of time"

NR has been (fairly) criticised for laying down timetables that the company has not been able to achieve. So I'm guessing he is a little more cautious these days - in which case that last quote presumably does mean what it says, and sounds pretty promising to me.

[rafboy] 24/9/2019 16:12

Adejuk, it will happen but I don’t know how long that will take. However, to reflect what Neill has said in the podcast and RNS, I expect it will be soon.

[grabster] 24/9/2019 16:11

"Textiles" was also the answer NR gave some weeks ago when asked which prospect he was most excited about.

[adejuk] 24/9/2019 16:05

raf
nonsense
soon does not mean 'no matter how long that is'
time and space are co-terminus.
unless you can find a black hole or a worm hole.
i prefer to stay in the world of non-quantum reality

[laginaneil] 24/9/2019 16:04

Hi Folks,
Great summary Woody, really good !!

To my mind Justin did a lot better this time. Technique, to throw Neill a
starter and then shut up.

Confirms textiles the nearest flower to bloom for me, in fact I 'feel' this
IS very close.

[rafboy] 24/9/2019 15:27

From the podcast we are told the textile deal is close. Without putting a timescale on close it is fair to assume that the hard work has been done on the negotiations on this deal. So it will happen and we can feel secure in the knowledge that it will be soon, no matter how long that is.

[woodpeckers] 24/9/2019 15:23

I have to say I was very pleased that Neill didn't allow Justin to coax another time frame out of him for the completion date! Well done Neill 👍

[adejuk] 24/9/2019 15:03

thx woody
justin is a v anxious pers
he makes nr anxious too
good summary

[scrutable] 24/9/2019 14:37

woodie

my apologies I had not yet seen your sound bites. Thay were most helpful.

[woodpeckers] 24/9/2019 14:36

Scrutable, I would agree with your comments about Justin and was delighted that he managed to hold back and let Neill talk this time.

There are too many points to list without repeating my 'nuggets' but I was pleased to hear that any delays are only being caused by the deals getting bigger and us being in a great position of strength such that we don't need to rush.

Neill and Chris have done an amazing job getting this company to the position it is where we are able to negotiate with such superpowers in this manner.

There is no question for me that our time will come.

[luckyorange] 24/9/2019 14:31

Best podcast to date Scrutable , says it all and should convince people that selling now after being patient/impatient for a while is not the sensible thing to do.

[bisho4] 24/9/2019 14:30

NR says in podcast that negotiating in China is difficult (and has always been difficult, not just for VRS), but is not holding up the deal. The delay is due to the size of the deal expanding. VRS's graphene is being incorporated into the Govt's 25-year plans, leading to more applications.

[alchemy] 24/9/2019 14:29

Yes Woodie that Podcast ! Concrete progress at AECOM. That pun is so powerful. 3 out of 5 strategic foci now known!

[scrutable] 24/9/2019 14:26

Woodie

I wonder if you agree/ Justin Waite talks too quickly to make amy useful argument, and his interview subjeect is put under too much pressure to say anything very considered.
The interview is therefore unavoidably short of any significant inference or response not already defined carefully by the Nomads vetting the RNS.

Did you read anything useful from that podcast? Perhaps it reaches a wider audience than reads the RNSs